The Institutional investors and internal control weakness

• Main Authors: Chang, Chih-Chieh, 章志傑
• Other Authors: Hung-Shu Fan
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/29486870494392745946

碩士 === 輔仁大學 === 會計學系碩士班 === 103 === The study aims to examine the influence of different types of institutional investors on the internal control weakness (hereafter, ICW). The sample of this study consists of TSE-listed and OTC-listed companies from 2006 to 2013 in Taiwan. The empirical results are as follows: 1. There is a significant-positive relationship between speculative institutional investors (ie. institutional investors with low shareholding & high turnover rate) and ICW. It reveals that the companies with speculative institutional investors are more likely to occur ICW. 2. There is an insignificant-negative relationship between long-term institutional investors (ie. institutional investors with high shareholding & low turnover rate) and ICW. This study also conducts some sensitivity tests, including replacing ICW dummy variable with the fines and the frequency of the penalty for ICW tests, the empirical results of the sensitivity tests are similar to the results of the main test. The subsamples tests show that the results of the main test are only hold for electronics industry and TSE-listed companies.